Ethical Theories & Stakeholders Essay Example | Topics and Well Written Essays - 1750 words

Moral Theories and Stakeholders - Essay Example An association exists in the general public, for the general public and can't have a presence free of the general public. Also, the association has duty towards all the partners that are straightforwardly or in a roundabout way influenced by the lead of the association or the workers (Joyce, 2005). Issue articulation Top administration association is fundamental to manufacture a solid moral culture inside an association (Clement, 2006). The issues before Veronica are to learn if the organization strategy licenses activity against such issues. Additionally, as an executive, she has obligation towards the partners. She is additionally ethically limited by obligation to act in light of a legitimate concern for the most extreme number of individuals. In the event that the requests of the investors, partners, shoppers and the financial specialists are not met, it can antagonistically influence the brand picture, client maintenance, and by and large business (Robinson, 2002). Moral hypothe ses and Stakeholders The partners The partner hypothesis holds that supervisors are obliged to serve every one of the individuals who have a â€Å"stake† in the firm (Marcoux, 2000). At first the partners incorporated the Big Five †the workers, the proprietor or the investors, the clients, providers and the network in which the firm worked. The other twin partners incorporate the administration (who has the duty to guarantee that the firm consents to all guidelines) and the contenders (who stay with the aware of the turns of events and help keep away from dishonest strategic approaches. The reason for the firm itself is to serve and organize the interests of the considerable number of partners (Joyce, 2005). Extraordinary Builds is a global designing organization and needs to guarantee that the enthusiasm of the considerable number of partners is dealt with. Representatives are the best partners as they establish the firm and add to the firm. Representatives have the cru cial right to freedom and security inside the work environment (Greenwood and Cleri, 2005). Clients are just intrigued by dependable flexibly of merchandise and ventures yet more as of late they have gotten aware of managing moral firms. The providers request convenient installments and long haul connections and the network anticipates wellbeing and security. On account of Great Builds the most influenced by exploitative practices would be the representatives, the clients and the investors. The contenders could be emphatically influenced if the presentation of Great Builds endures because of the CEO’s conduct. Clear cut Imperative According to Immanuel Kant obligations can't be related with personal responsibility or prizes and settlements (Carrigan, Maronova and Szmigin, 2006). Moral prerequisites depend on a standard of sanity known as â€Å"Categorical Imperative†. In any case, odds are these guidelines are want dependent on instrumental standards of objectivity (St anford, 2004). The ethical way of thinking goes past that of a human slave to interests. Kant accentuates that there is a self-overseeing reason in every person which manages the individual in a method of reasoning dynamic procedure. There must be inspiration by obligation or inspiration by regard for law that oversees activities. Along these lines, Kant expresses that the central guideline of our ethical obligations is a clear cut goal. The word basic urges us to act with a certain goal in mind. The Categorical Imperative is gotten from two proverbs †objectivity and regard for all people (Kitcher, 2004). The saying of objectivity expresses that the demonstration is correct if

Mothers Day Celebrations Around the World

Moms Day Celebrations Around the World In spite of the fact that regarding moms on an exceptional day was referred to as far back as antiquated Greece, today Mothers Day is commended in numerous nations, from multiple points of view, and on various dates. Where Did Mothers Day Originate? The credit for the American Mothers Day recognition goes to three ladies. In 1872 Julia Ward Howe (1819-1910), who additionally composed the verses for The Battle Hymn of the Republic, proposed a Mothers Day recognition devoted to harmony in the years following the Civil War. Such yearly observances were held in Boston in the late 1800s. In 1907 Anna Marie Jarvis (1864-1948), a Philadelphia educator initially from Grafton, West Virginia, started her own endeavors to build up a national Mothers Day. She additionally wished to respect her own mom, Anna Reeves Jarvis (1832-1905), who had first advanced the Mothers Work Days in 1858 as a manner to improve the sterile conditions in her town. She later attempted to ease enduring during and after the Civil War. With the help of chapels, specialists, and government officials, Mothers Day came to be seen on the subsequent Sunday in May in many U.S. states inside quite a long while of Ann Jarvis crusade. The national Mothers Day occasion got official on May 8, 1914, when President Woodrow Wilson marked a joint goals, however it was to a greater extent an enthusiastic day on which banners were flown to pay tribute to mother. Unexpectedly, Anna Jarvis, who later attempted futile to battle the expanding commercialization of the occasion, never turned into a mother herself. Moms Day in Europe Britains Mothers Day recognition returns to the thirteenth century when Mothering Sunday was seen on the fourth Sunday of Lent (since it was initially for Mary, mother of Christ). Afterward, in the seventeenth century, workers were given a free day on Mothering Sunday to get back and visit their moms, frequently bringing along a sweet treat known as the mothering cake that should have been kept until Easter. In the UK, Mothering Sunday is as yet seen during Lent, in March or early April. In Austria, Germany, and Switzerland Muttertag is seen on the subsequent Sunday in May, similarly as in the U.S., Australia, Brazil, Italy, Japan, and numerous different nations. During the First World War, Switzerland was one the principal European nations to present Mothers Day (in 1917). Germanys first Muttertag recognition occurred in quite a while, in 1926 (or 1924, contingent upon the source). Muttertag was first announced an official German occasion in 1933 (the subsequent Sunday in May) and took on an exceptional importance as a major aspect of the Nazi parenthood clique under the Hitler system. There was even a decoration das Mutterkreuz-in bronze, silver, and gold (at least eight Kinder!), granted to moms who delivered kids for the Vaterland. (The decoration had the mainstream moniker of Karnickelorden, the Order of the Rabbit.) After World War II the German occasion turned into a progressively informal one that took on the cards-and-blossoms components of the U.S. Moms Day . In Germany, if Mothers Day happens to fall on Pfingstsonntag (Pentecost), the occasion is moved to the principal Sunday in May. Moms Day in Latin America Global Mothers Day is seen on May 11. In Mexico and quite a bit of Latin America Mothers Day is on May 10. In France and Sweden Mothers Day falls on the last Sunday in May. Spring in Argentina comes in October, which may clarify why their Mothers Day recognition is on the second Sunday in October instead of May. In Spain and Portugal Mothers Day is Dec. 8 and is to a greater extent a strict occasion than most Mothers Day festivities around the globe, in spite of the fact that the English Mothering Sunday really started under Henry III during the 1200s as a festival of the Mother Church. German artist and rationalist, Johann Wolfgang von Goethe: Von Vater hab ich kick the bucket Statur, des Lebens ernstes Fã ¼hren, von Mã ¼tterchen bite the dust Frohnatur und Lust zu fabulieren.

Research paper Example | Topics and Well Written Essays - 250 words - 4

Research Paper Example It was an all high for female in both open and private not-for-profit foundations. The converse was seen in the private revenue driven foundations, with guys being more than females at forty-eight percent and thirty-six percent individually. Each beginning of a scholarly year accompanies an ever-expanding cost of school training. A meeting led on people of ages eighteen to sixty-five, discovered that sixty-five percent of the respondents accepted that school costs were developing at a quicker rate than different things and administrations. Eighty three percent proceeded to clarify that understudies get a lot to go to class. The school year 2013-2014, recorded a normal educational cost and charges for undergrad at open four-year universities at $8,893 a two point nine ascent from the earlier year. The private non-benefit four-year universities recorded a normal education cost of $30,094, which was a three-point eight percent from the earlier year. For throughout the most recent decade, an expansion in educational cost and charges has been on an ascent. At the four-year open schools the raise has hit a fifty-one percent rise. The private non-benefit four-year schools, the raise was at twenty-five percent. This raise has come about to an expanded number of understudies needing monetary help. The most recent decade has seen the quantity of Pell awards ascend from four focuses eight to eight point 8,000,000. The maintenance of University understudy is of significance all the more so to the school chairmen in attempting to improve the alumni rates and diminishing of educational cost and charges since the economy is known to noticeably affect the maintenance

Evaluation of Strenghts and Weaknesses of Morrison Supermarkets

[pic] Evaluation of Strengths and Weaknesses of WM Morrison Supermarkets Complied by: Karolis Petkus Student number: 2903678 Course mentor: Ian Edwards 2009 Contents or page record: †¢ Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. p. 3 †¢ Background †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦p. 3 †¢ Current system †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦p. 4 †¢ Strengths †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦. p. 5, 6 †¢ Weaknesses †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. p. 6 †¢ Opportunities †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ p. 6, 7 †¢ Threats †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. p. , 8 †¢ Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. p. 8 †¢ Appendices †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. p. 9 †¢ References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. p. 10 Introduction Wm Morrison is one of the most famous retailers in UK and it offers an incredible cost and nature of food. For me, as an understudy and a competitor continually searching for new, solid food at great costs it is on of the best choices to pick. That is the reason I have picked this organization to assess. Likewise, I will have the option to locate some new data about Wm Morrison, which will be helpful for me as a client. The article incorporates data about foundation, current methodology, qualities, shortcomings, openings and possibilities. Foundation Wm Morrison was established in 1899 by William Morrison, an egg and margarine trader. Presently, it is one of the biggest store chains in the UK, offering a vide scope of merchandise including different brands and own name items. The organization is headquartered in Bradford, the UK and utilizes around 124,530 individuals. What's more, it has assuranced to make around 5000 occupations this year. It works more than 382 stores and 287 gas stations all over UK. With such a development Morrison turned into an individual from the â€Å"Big Four† basic food item retailers. ttp://www. watchman. co. uk/business/2009/jan/13/morrisons-grocery stores (15/11/09) www. morrisons. co. uk/Corporate/About-Morrisons/Company-history1/(15/11/09) Current technique Wm Morrison has a dream called ‘Food Specialist for Everyone’. It has three diverse brand e steems: Fresh, Value and Service. Those three qualities should give them adaptability to respond to advertise changes and client inclinations. Brand esteems: Fresh The Company’s point is to get ready more newly food than some other retailer. That’s why they have more staff planning food than others. The organization is solid by having their own manufacturing plants, creation offices and dispersion arrange. With these offices they can get food to stores quicker so it is constantly fresher. Worth Value is the way in to the vision and is significant in the economic situations. They offer quality and newness at a value which individuals like. Their offers are tied in with setting aside clients cash. What's more, their costs are extraordinary incentive over the reaches. Administration Because they have their own conveyance organize, they can be certain that the correct items are constantly accessible for our clients. The staff is well gifted so they give clients what they need †new food served by accommodating, benevolent, very much prepared individuals. http://lispac. lsbu. air conditioning. uk/record=e1000089 (15/11/09) Strengths Financial execution With high incomes of ? 14. 5 billion, Morrison is UK's fourth biggest food retailer. The organization works 382 stores and serves 10 million clients consistently. As per TNS statistical surveying, it has a piece of the pie of 12. 3 % in the basic food item showcase. Morrison has accomplished various of grants in 2008, including â€Å"Retailer of the Year†, the â€Å"Grocer of the Year† and numerous others. It builds up the brand picture of the organization and gives a serious lead. Vertically incorporated activities Morrison is special food retailer since it is the one in particular which possesses and runs new food making and handling capacities. This organization has 12 assembling places in the UK and a vide transport park. This is the means by which the organization gives economies of scale at a significant level and is strong in its tasks. Concentrate on cognizant purchasers because of the downturn Morrison brings to the table something appealing to their clients. That is the reason organization turned out offers, for example, ? family dinner bargains, 2 for 1 proposal on party nourishments and numerous others. With such a system Morrison can drive deals in a frail monetary condition. www. marketlineinfo. com. lispac. lsbu. air conditioning. uk/library/Default. aspx (16/11/09) Weaknesses Lack of partaking in web based shopping Online shopping is developing each year in the UK. With such a rapid of developing internet shopping, general stores start their online deals channels to build the incomes. ASDA, Tesco and Sainsbury in the UK have begun their diverts in the web based shopping. In any case, Morrison has not begun this pattern which could restrain development openings. ww. marketlineinfo. com. lispac. lsbu. air conditioning. uk/library/DisplayContent. aspx? R=A72DB36B-5734-4779-B792-270152CA738A=4294836834=IDA2XUJB#IDA2XUJB (16/11/09) Opportunities Optimization plan Morrison began an enhancement plan by 2007 to create activities by FY2010. As a piece of streamlining plan, the organization finished the re-marking of every one of its stores and more than 3,000 own-image Morrison items got new bundling. One section has been finished, to reâ€brand all stores and more than 3,000 own-image Morrison items have new bundling. The Company additionally introduced self-examine checkouts over half stores. Fruitful advancement plan could create piece of the overall industry, brand worth and accomplishment for the organization. Development in private brand advertises The private brand showcase is about a solid development in deals and is relied upon to reach about ? 52 billion by 2011. These items have high edge potential. . Morrison offers 18,000 product offerings in a commonplace store, 32% of which are own-image names. The development in private mark items could be a significant open door for the organization and could expand its prosperity. www. marketlineinfo. com. lispac. lsbu. air conditioning. uk/library/DisplayContent. aspx? R=A72DB36B-5734-4779-B792-270152CA738A=4294836834=IDA2XUJB#IDA2XUJB (16/11/09) Positive mentality for sound nourishments Natural and natural food items division is one of the quickest developing classifications in food selling. Morrison offers a scope of natural items, through its own name â€Å"Organic†, including eggs, cheddar, potatoes, mushrooms, tea packs and muesli. The developing business sector for natural items could to a great extent increment incomes. Possibilities Recessionary atmosphere Like most economies, the UK is currently on downturn, too. In light of downturn, joblessness is expanding and shoppers must be progressively mindful of spending. Subsequently, the organization's deals and edges will be feeling the squeeze during such troublesome monetary occasions. www. marketlineinfo. com. lispac. lsbu. air conditioning. uk/library/DisplayContent. aspx? R=A72DB36B-5734-4779-B792-270152CA738A&N=4294836834&selectedChapter=IDA2XUJB#IDA2XUJB (17/11/09) Rising work costs in the UK Employment costs are on the ascent in the UK. Te grown-up the lowest pay permitted by law has expanded from ? 5. 73 in October 2008 to ? 5. 80 which will become effective in October 2009. An expansion in labor costs will expand Sainsbury's in administration expenses and effect its edges. Extreme rivalry Morrison is confronting serious rivalry in their business from different grocery stores and stores. Tesco drives trough various store designs. Imprints and Spencer's and Waitrose grocery stores are arranging advancement in the UK. Developing rivalry could prompt the valuing pressures, which would lessen the company’s turnover. www. marketlineinfo. com. lispac. lsbu. air conditioning. uk/library/DisplayContent. aspx? R=A72DB36B-5734-4779-B792-270152CA738A&N=4294836834&selectedChapter=IDA2XUJB#IDA2XUJB (18/11/09) Conclusion Wm Morrison has a decent vision to their further promoting. They put a great deal of consideration on a new and solid food which turns out to be increasingly well known between purchasers. With a system like this, they can remain steadfast between top 4 retailers in the UK. Be that as it may, Morrison isn't keen on web based shopping, which as per the measurements will increment extremely quick in the following hardly any years. Likewise, in such troublesome financial occasions shoppers are eating out less and searching for less expensive types of diversion. It will be hard to keep high incomes confronting downturn and extreme rivalry from different general stores. Informative supplements Appendix 1: SWOT examination outline Strengths |Weaknesses | |Strong showcase organization |Lack of partaking in online shoppin

Entertainment in the jazz age essays

Diversion in the jazz age expositions Diversion in the Jazz Age Since the get-go, people have discovered approaches to engage themselves. Obviously these types of amusement have changed definitely from that point till now. One of the most powerful many years of present day diversion was the Jazz Era, or the 1920s. The 1920s delivered the starting ubiquity of amusement, for example, motion pictures and TV, radio, jazz music, and the intermittent prevailing fashions which were the it action for multi week and disregarded the following. Film and TV stars truly started to sparkle during the 20s. In the previous years, all motion pictures were quiet (Brittan 21). Not totally quiet; there were instruments and audio cues out of sight, however without spoken words. Charlie Chaplin, who depicted the Little Tramp, was one of the quiet periods most well known stars. With his trademark waddle and comedic however true movies Chaplin made a work of art, essential character (Brittan 44-45). Close to the later piece of the 20s, films experienced the advancement from quiet to sound. In 1927 the primary completely spoken film, featuring Al Jolson, was brought to theaters. This progressive film called the Jazz Singer, being the principal talkie film at any point made, carried a lot of accomplishment to its makers Warner Bros. Pictures (35). Film making had become Americas fifth most worthwhile industry during the 20s (21). Another well known type of visual amusement from the 20s was TV. What made TV uncommon was the way that it was accessible to individuals with a wide range of salaries. While normally just the well off could consistently go to cinemas, almost everybody rich or poor could stand to stare at the TV (Snowman 27). Truth be told, there truly werent a lot of individuals who werent one extraordinary or the other; during the 20s not many individuals had a working class pay (13). S ... <!

Eurobonds - Free Essay Example

Before looking at the resolutions that are open to the companies on default of the bond it is first important to look at the type of bond that we are dealing with. The bond in this situation is a Eurobond. A Eurobond is a bond which is outside of the control of the country in whose currency they are denominated and they are sold n different countries at the same time by large companies. Eurobonds typically have maturities of 5 to 15 years and interest on them, which is payable gross may be at either a fixed or a floating rate. Eurobonds are bearer securities, which means that their owners are unregistered, and so they offer investors the attraction of anonymity. Because Eurobonds are unsecured, companies that issue them must be internationally known and have an excellent credit ratings. Companies may find that Eurobonds useful for financing long-term investment, or as a way of balancing their long term asset and liability structures in terms of exposure to exchange rate risks. Next to look at the situation on default if there is a trustee in place. A trustee will be able to deal with the default and the issues that arise out of this. The fundamental feature of the trust is the separation of legal and equitable title. In the commercial sphere various advantages flow from this. Equitable ownership vests in the beneficiaries of the trust. The use of a trust permi ts the trustees to exercise their discretion in the vent of a default and thereby protects the borrower from arbitrary legal action at the hands of an individual bondholder. If there is a trustee in place the bondholders will enjoy the equitable protection of being treated equally and the financial expertise of the trustee, who has the resources to bring action against the borrower if required. As S C are Italian the Hague Convention will apply to this transaction. Article 2 of the Hague Convention states that the trustee has the power and the duty, for in respect of which he is accountable, to manage, employ or dispose of the assets in accordance with the terms of he trust and the special duties imposed upon him by law. As safeguards, nothing in the Hague Convention prejudices the powers of states in fiscal matters or the power of a court to apply its own public policy rules, while if all maters are internal to a state, other than the choice of a foreign law to govern the tru st and foreign trustees, a court of hat state had the option not to recognise the trust. Where there is a trustee in a bond issue, it is common that the trustee should be given discretion to make determinations as to whether or not a matter is material. This will be relevant to issues such as whether the trustee, of its own volition and without seeking instructions from the bondholders, should be permitted to consent to a request made by the issuer for a minor amendment to the conditions attached to the bonds or to the giving of an inconsequential waiver from compliance with such conditions. It is also not uncommon for the documentation to provide in relation to certain of the events of default set forth in the relevant clause, that enforcement action will only be taken where such an event has arisen if the trustee considers that what has occurred is materially prejudicial to the interests of the bondholders. Peter Smith J. in the High Court considered that phrase in Law Deben ture Trust Corporation PLC v Acciona SA[1] where an event of default allegedly had occurred occurrence of an event of default was materially prejudicial to the interests of the bondholders, so that enforcement action could be taken, the trustee had first to determine that the event was presently occurring and secondly that it was prejudicial to the interests of the bondholders in a material way. By way of further amplification, his Lordship said that the interests of the bondholders related to their interests in the bonds, that is, their contractual entitlement to the payment of interest and capital and, as well, any ancillary rights which the bondholders might have to protect their entitlement to the payment of interest and principal, such as security rights and significant rights having a commercial protective interest, such as the right in this case to appoint a director to the board of the issuer. Material prejudice did not necessarily mean the same thing as material breach, as such prejudice might exist even without such a breach and even the existence of a material breach might not, on the facts, mean that the interests of the bondholders had been materially prejudiced. In most cases, the trustee would need to investigate the circumstances and their consequences to determine if the relevant element of material prejudice existed. However, the facts on their face might be sufficient to establish the relevant degree of material prejudice without the need for further investigation. His Lordship held that the facts in this case were sufficient on their own for the trustee to make a determination that there was material prejudice to the interests of the bondholders, in that the acts of the issuer in excluding the nominated director from the board, in failing to appoint a replacement nominated by the bondholders and in entering into the unauthorised transactions were obviously prejudicial as they stood, so that it was not necessary for the trustee to investi gate the consequences of those things further before it could make a determination that what had happened had actually caused material prejudice to the interests of the bondholders. A trustee may be able to prevent an event of default from triggering repayment of the bonds if the effect is not materially prejudicial to bondholders. With a fiscal agent it is possible for bonds to become repayable if a single opportunistic bondholder detects a minor event of default that cannot be cured quickly, even if the damage caused to the borrower and the remaining bondholders is potentially enormous (e.g. such as this triggering cross-default provisions in other financing agreements). Bondholders can be better off under a trust arrangement if the borrower does default. First, the trustee can require payments to be made directly to it for the bondholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ benefit; by contrast, funds held by the fiscal agent may be at risk of attack from a liquidator. Second, a trustee can ensure that all bondholders are treated equally, so avoiding a scramble by bondholders to start individual proceedings in different jurisdictions to establish preferential claims to the borrowerà ¢Ã¢â€š ¬Ã¢â€ž ¢s assets. Trustees are able to balance the competing interest of the various bondholders, wereas, as will be shown when a bond holder meeting takes place there are complications, not only with time, logistics and expense, but with balancing the competing interests of the creditors. Perhaps the single most important role that an experienced trustee can play is in crisis management. Credit standing is matter of market confidence. A trustee can act behind the scenes in helping a borrower to overcome potential events of default. A trustee can provide an accurate gauge of bondholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ likely reaction to a proposed course of action. In the absence of a trustee, a borrower may have to convene a bondholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ meeting to agree even minor changes in the issue terms or to waive insignificant breaches of covenant. Such a meeting can be difficult to arrange, expensive to hold, and the outcome may be uncertain if the borrower has been unable to communicate with bondholders in advance. The convening of a meeting can also have an adverse impact on the borrowerà ¢Ã¢â€š ¬Ã¢â€ž ¢s market standing and leaves the borrower vulnerable to the short-term whims of aggressive bondholders. Use of a trustee can avoid this expense and uncertainty. If a payment is missed on one loan, cross-default clauses may be invoked to declare the debtor in default on other instruments and to demand accelerated repayment of the entire corpus of the obligation. A material adverse conditions clause in lending agreements allows creditors to declare a default whenever a material change in the condition of the debtor leads creditors to believe that the debtor may be unable to repay[2]. These clauses are all intended to protect the interests of each individual c reditor, but when broadly exercised may end up hurting creditors as a group. Bibliography August R, (2004) à ¢Ã¢â€š ¬Ã…“International Business Law: Text Cases and Readingà ¢Ã¢â€š ¬Ã‚  Fourth Edition, Pearson Arnold G, (2002) Corporate Financial Management, Second Edition, Harlow, FT Prentice Hall Burgess R (1992) à ¢Ã¢â€š ¬Ã…“Corporate Finance Lawà ¢Ã¢â€š ¬Ã‚ , à ¢Ã¢â€š ¬Ã…“Second Edition, Sweet and Maxwell Cranston R, (2005) à ¢Ã¢â€š ¬Ã…“Principles of Banking Law, 3rd Edition, Oxford University Press Ferren E, (1999) à ¢Ã¢â€š ¬Ã…“Company Law and Corporate Financeà ¢Ã¢â€š ¬Ã‚ , Oxford University Press Ross S, (1999) à ¢Ã¢â€š ¬Ã…“Corporate Financeà ¢Ã¢â€š ¬Ã‚ , Fifth Edition, McGraw-Hill Watson D, (1998) à ¢Ã¢â€š ¬Ã…“Corporate Finance: Principles and Practiceà ¢Ã¢â€š ¬Ã‚ , Pitman 1 Footnotes [1] [2004] EWHC 270, Ch D [2] For an explanation and example of such clauses, see Lee C. Buchheit, How to Negotiate Eurocurrency Loan Agreements (London: Euromoney Publication 1995) 101-05.

The Top Secret Truth About Samples of Comparison and Contrast Essay Uncovered

The Top Secret Truth About Samples of Comparison and Contrast Essay Uncovered A cause and effect essay is the sort of paper that the writer is using to analyze the causes and effects of a certain action or event. Generally, there are 3 kinds of cause and effect essays. There are different kinds of effects and causes that you may take into account. Additionally, there are less important ones that are known as the contributory results and causes. You must be in a position to demonstrate that every cause was actually related to the last outcome. What's more, you must make sure your causes are in reality linked to their effects. Eating disorders are a severe health issue. As a result, if one faces such a problem as insomnia, they should do their very best to solve it as fast as possible. An analytical essay is a particular kind of composition that is composed in order to help the reader obtain much better knowledge of a particular object. Apart from being a comprehensive assignment by themselves, cause and effect writing may also feature as part a bigger assignment. In the event the topic isn't nicely researched, there is not going to be any outstanding composition. Once more, you'll have to demonstrate your thorough wisdom and analytical mastery of the area. Samples of Comparison and Contrast Essay Options Therefore, in case you have to compose a brilliant research paperyou should understand its most important ideas. Writing about the reason and effect essay topics related to the school's popularity or surviving the initial year in college might be fine to grab the interest of your peers. The group of qualified essay writers is always prepared to assist you with that in no moment! The very first sentence in the paragraph, together with the prior one's last sentence, should supply a smooth transition and one which is clear. The Debate Over Samples of Comparison and Contrast Essay Good research is indispensable in regards to writing a very good cause and effect essay. Before you start to compare the 2 subjects, research to acquire more knowledge on the topics you're writing about. Deciding upon the most suitable topic has to be carried out with care because it's the fundamental foundation of essay writing. Deciding upon the essay topic has to be carried out carefully. Don't be afraid to speak to our Essay Writing Service and expert essay writers will gladly aid you with your assignment. Furthermore, you could come across more resources about College Essay Examples. Furthermore, it's super important to found your essay around your primary bodies rather than your thesis statement. Students learn how to analyze details about two subjects. Choosing our service, you are going to understand that studying can be simple if you gain from the help of competent experts. This kind of assignment is a little different from many other college tasks and has multiple requirements, which might significantly complicate the approach. Quit worrying because writing isn't a burden, but a challenge that you ought to be inclined to take on. Writing of company papers isn't a simple endeavor largely to pupils which have been in their very own large level of education. The Foolproof Samples of Comparison and Contrast Essay Strategy Each paragraph will go over the reas on and the result. The finish of your introduction paragraph ought to be a thesis statement. Once you are finished with the principal section, you must work on the conclusion. In any event, you are going to need to make certain that your thesis statement reflects your instructor. Prepare the body of the essay so you've got one paragraph for every one of the causes or effects from your thesis. The body would be discussing the information which you provided in the debut of the essay, if you are handling many causes or effects, you can discuss them one by one in distinct paragraphs. While there could be multiple results or causes for any particular relationship, based on the amount of your essay, you must make attempts to keep it limited to three. There's always something which precedes certain consequences. Before you commence working on cause and effect essay outline the very first thing you have to do is to pick a winning topic. Cause and effect is a good alternative for those who need to better their skills not just in writing but logical thinking too. There are primary results and causes, which are the ones which are most important. Want to Know More About Samples of Comparison and Contrast Essay? Finally, you've got to examine the paper on multiple occasions. For college students, writing a cause and effect essay does require a whole lot of thought and a particular level of research skill, however, it doesn't need to be a tricky undertaking. Once more, based on the content you've got to provide, the essay ought to be organized to suit your information efficiently and neatly. Get in touch with us now to learn how you are able to secure a superior essay for a sensible price.

Make Potassium Nitrate From Lite Salt and a Cold Pack

Make potassium nitrate (saltpeter) from common household ingredients. Potassium chloride from salt substitute  and ammonium nitrate from a cold pack are reacted to yield potassium nitrate and ammonium chloride. This is an easy way to make your own potassium chloride if you cant find it in a store or just want to try a fun chemistry experiment. Potassium Nitrate Ingredients 40 g ammonium nitrate (from an instant cold pack which has ammonium nitrate listed as its ingredient)37 g potassium chloride (sold as a salt substitute, with potassium chloride listed as the only ingredient)100 ml water You should be able to find the ingredients at a grocery store or general store. Cold packs that work using ammonium nitrate contain two pouches. One is filled with water, while the other contains solid ammonium nitrate. Potassium chloride is a common salt substitute, used by people trying to cut their sodium intake. Its sold with table salt and other spices. While its fine if there is an anti-caking chemical, youll want to avoid lite salt containing both potassium chloride and sodium chloride because youll end up with a mixture of sodium nitrate and potassium nitrate from the chemical reaction. The Chemical Reaction Aqueous solutions of ammonium nitrate and potassium chloride are reacted to exchange the ions and form potassium nitrate and ammonium chloride. The ammonium chloride is much more soluble in water than the potassium nitrate, so you will get potassium nitrate crystals, which can be separated from the ammonium chloride solution. The chemical equation for the reaction is: NH4NO3 KCl → KNO3 NH4Cl Make Potassium Nitrate Dissolve 40 g of ammonium nitrate into 100 ml of water.Filter the solution through a coffee filter to remove any undissolved material.Heat the solution with 37 g potassium chloride to dissolve the lite salt. Do not boil the solution.Filter the solution and either set it in the freezer to chill or else put it in an ice bath so you can observe the crystallization of the potassium nitrate.Pour off the ammonium chloride solution, leaving the potassium nitrate crystals. You can recover the ammonium chloride, too, if you like.Once the potassium nitrate crystals are dry, you can use them for chemistry experiments. The resulting potassium nitrate does contain impurities, but it will work fine for pyrotechnics projects and other experiments described on this site. Examples of Potassium Nitrate Science Projects Perhaps the simplest project you can perform with potassium nitrate is producing purple fire. The purple color results from the excitation of the potassium ion. You could also mix potassium nitrate with alcohol to make a colored fire spray bottle.Potassium nitrate is a key ingredient in a homemade storm glass, which produces crystals in response to atmospheric conditions.Mix potassium nitrate with sugar to make a homemade smoke bomb.Coat paper with a mixture of potassium nitrate and water, let it dry, and apply a match to write a message using fire.Potassium nitrate is used to make black powder.

Rhetorical Analysis Of John Smith - 797 Words

Most likely, one has heard about the story of Pocahontas and John Smith. However, John Smith was not as lovable and kind as he was portrayed, and as you might think. In the letter Address to Captain Smith, the speaker, Chief Powhatan, Pocahontas’ father, takes a condescending tone and addresses to the English settlers, especially John Smith, how the chief’s generous hospitality has not been appreciated. Literary devices (such as rhetorical questions, antithesis, and repetition), diction, and pathos are exercised by Chief Powhatan to address his purpose and produce it as impactful as possible. Firstly, Chief Powhatan uses many literary devices to address his purpose to Captain John Smith. Some counted devices are in Lines 5-6 (â€Å"Why†¦show more content†¦And then you must consequently famish by wrongdoing your friends†). The use of ‘friends’ in the line ‘fly into the woods’ is noteworthy, due to how it emphasizes how (1) the tribe’s congenial actions and aid should be enough to be considered as friends and emphasizes their hospitality and encourage; and how (2) the tribe can take away their help just as easily as they went and helped them. In addition, the word ‘fly’ in ‘fly into the woods’ not only demonstrates movement, but the word is ironic in the sense of how the the word implies an encaptured connotation, not a freed connotation as it is usually used for. In addition to this line, Lines 18-19 (â€Å"Captain Smith, this might soon be your fate too through your rashness and unadvisednes s.†). The words ‘rashness’ and ‘unadvisedness’ emphasizes the foolhardiness that the English settlers might encounter if they pursue the life of force, belittlement, and unappreciativeness that they practice. It creates an image about their consequences of actions, and just how exactly they can be described. Other words would not have made the same alarming impact upon the settlers. Lastly, Chief Powhatan uses powerful pathos to make a his purpose more emphasized as to how he approaches himself to others and how he connects with the audience. This can be seen in Lines 1-3 (â€Å"I am now grown old and soon must die, and the succession mustShow MoreRelatedRhetorical Analysis Of John F. Kennedy s Inaugural Address971 Words   |  4 PagesA Rhetorical Analysis of John F. Kennedy’s Inaugural Address By 1961, The United States of America was struggling with racial tension and social inequalities, while fighting communism internationally and protecting the public from the weapons and devices of our adversaries abroad. Confusion and fear had invaded the minds of the American people as the cold war neared its pinnacle; they were desperate for a strong, reassuring leader. John F. 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Henry Louis Gates Jr. - 1976 Words

Homa Khugyani Margaret Rustick English 3080 7 February 2016 Henry Louis Gates Jr. Henry Louis Gates Jr. is the Director of the Hutchins Center for African American Research at Harvard University, and an esteemed Alphonse Fletcher University Professor. According to his Harvard University profile he is an â€Å"Emmy Award-winning filmmaker, literary scholar, journalist, cultural critic, institution builder†¦and the recipient of fifty-five honorary degrees and numerous prizes.† Professor Gates was also the first African American scholar to be awarded the National Humanities Medal. In 1973 he earned his Bachelors in English Language and Literature from Yale University, and in 1974-1979 he got his Master’s. and Ph.D. in English Literature from Clare College at the University of Cambridge (Department of African and African American Studies). Throughout many of his texts Gates provides examples of the ambiguity of language and identity, and the oppressive role ideology plays in the black community; allowing readers to apply the id ea of deconstruction to our own daily experiences Gates was born in 1950, and raised in Piedmont, West Virginia, by his father, Henry Louis Sr. and his mother Pauline Coleman Gates. His father worked at the local Westvaco paper mill during the day and worked nights as a janitor for a local telephone company in order to support his family. Gates mother, was a house cleaner and worked hard to raise her sons to live and excel in an integrated world so that theyShow MoreRelatedColored People by Henry Louis Gates Jr.643 Words   |  3 PagesI feel there are many reasons that Henry Louis Gates Jr chose Colored People as the title of his memoir. I think the word Colored in the title was used to group everyone as a whole. 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Yamaguchi described how her grandfather was continued to fight for America against the Japan while the rest of

A Study On Preparing Titanium Metal Matrix Composites With...

I. INTRODUCTION Many engineering applications in the field of aerospace engineering, automobiles, electronic equipment etc. require very light material with good mechanical properties. Titanium based metal matrix composites with carbon nanotube reinforcement can be a solution for such applications. It can satisfy the requirement of light weight with very good strength. This study focuses on preparing titanium metal matrix composites with CNT reinforcements for various compositions for its mechanical properties. Ti alloys have been widely used as structural materials in aeronautical industries due to their attractive comprehensive properties, such as low density, high strength, ductility, toughness and resistance to fatigue. Observations on the MA behaviour of CNT–Ti powder mixtures in this study showed that addition of CNTs alters the grinding behaviour of Ti powders, which typically agglomerates in ball milling, and that the MA process itself is also affected by the type of CNTs incorporated. While all types of the CNTs, namely SWCNTs, DWCNTs, and MWCNTs, functioned as grinding aid preventing agglomeration of Ti particles, only the MWCNTs seem to have uniformly embedded into the Ti particles whereas SWCNTs and DWCNTs were supposedly not dispersed fully within the matrix. These variations in MA behavior, dependent on the types of CNTs, are ascribed to the morphological characteristics of each CNT type such as overall shape, number of carbon walls, and diameter, and specific

Strategic HR Management Case Study free essay sample

VII. Recommendations VIII. Conclusion IX. References I. Abstract The primary objective of this paper is to examine the Human Resources Planning and Strategic Change for Wal-Mart, the world’s largest retailer. In this context, the authors analyze the employee selection, training and development of the company as well as studying the performance compensation management, strategy evolution and financial status of the firm. A SWOT Analysis is also included in the authors’ work in order to support their financial research of Wal-Mart. This paper concludes with recommendations and conclusions and the article finds that the business has a huge growth potential and entry to Middle-East markets such as Israel can be taken into consideration. According to the authors, Wal-Mart has the adequate financial strength to take risks on the international markers arena. Additionally, although the company is very well known with its acquisitions strategy, joint ventures and strategic partnerships are also recommended as alternative strategies for the firm by the authors. Finally, despite some unethical issues and concerns about social responsibility, Wal-Mart still seems to be a good buy for the investors who are interested in the company’s stocks. II. Wal-Mart Employee Selection, Training, and Development Wal-Mart has many key factors involved that make it such a successful company. However, one element they have is one that every company has and this includes employee selection, training, and development. These three factors together create the staff that makes the customers returning time and time again. Without the selection, you wouldn’t have the training, thus, you wouldn’t have the development so all these things are needed to make a competitive staff. Employee selection is an important factor to Wal-Mart when they are hiring their staff. Diversity is the key thing they think of in hiring someone and choosing someone to join the multi-million dollar company. â€Å"Our commitment to diversity remains strong and as part of our continuing efforts to become a leader in diversity we will, continue to ensure that our hiring represents the diversity of our communities, and grow the percentage of women and minorities in our management ranks. (Wal-Mart. com). This is an interesting fact because one of the main complaints with Wal-Mart today is how they mistreat and underpay their staff. Wal-Mart also prides itself not only in diversity, but also in young employment. It seems as though they like young eager staff. â€Å"We engage in job fairs, college recruiting, and intern ships to increase the diversity of our candidate pool for open positions throughout the company. We have increased the companys diversity considerably through our external recruiting efforts. † (Wal-Mart. om). That is a great opportunity for young job hunters to get their feet wet and experience in the business field. The next step in the employment process is the employee training and development. Training is a costly and a very time consuming process in a business. Companies like Wal-Mart pay their employees to be trained, and they pay the person who is training, this is like paying double the staff needed. When the hiring process starts and it comes time to picking out candidates, Wal-Mart makes sure they have the right ones. They do not want to waste time and money Wal-Mart has just recently come up with a whole new training and development system that is supposed to be effective and much more efficient then their old one. â€Å"Wal-Mart grew its training and development program the way it grew the corporation: from store level up. † (Speizer, P. 2) Wal-Mart is such a large organization that their training and development needs to be top notch and have great influence on their staff. An author of Wal-Mart and a worker said, â€Å"Their training and development is making a significant commitment and it will be a radar screen for all other organizations. † The company is using a combination of outside vendors and systems it has created on its own in the overhaul of training and development. (Speizer, P. 2) Their new method of training was brought to them by Nike. The process goes something like this, â€Å"Each segment is three to seven minutes long and gives the associates the basic knowledge they need about various products. As new products are introduced each season, the training is updated and Nike customized the program for each retailer. Associates are then quizzed at the end of the training and asked for feedback, which gets sent back to managers and they are able to adjust things if needed. † (Marquez, P. 2) This process is an outstanding format; internet is the new way of communicating and training. This type of training is called e-training and is definitely shown to be efficient. Other companies such as Cingular and Nike have taken part in this form of training as well. Often times when new associates learn new information they have to go back and ask a lot of questions and this takes away from getting things done. Wal-Mart decided to eliminate a step and have this broken into the three segments in hopes of learning while working. Wal-Mart finds that if you learn one thing at a time and you learn in correctly, you won’t forget and you can learn at a faster rate in the end. Wal-Mart has a reputation of not treating their employee’s right and not being as up to date with technology as they could be. Wal-Mart is showing improvement with their technology by using this e-training. It seems they are beginning to touch base with their consumers as well as their employees. A lot of businesses have gone global; schools have started having classes online, and much more. By Wal-Mart having one of the newest forms of training will definitely increase their knowledge and attract a lot of other businesses and also stresses how they are staying in tact with the latest trends, which is imperative in the businesses world. This is a step in the right direction for Wal-Mart and may make them even bigger than they already are. III. Wal-Mart Human Resources Planning Thanks to an onslaught of class-action gender and wage-discrimination lawsuits, negative press and criticism from unions, Wal-Mart in 2004 embarked on a major workforce management reorganization. Wal-Mart, instead of just having 100 executives in its Bentonville headquarters to watch over everything, developed a plan to hire more than 300 human resources managers to work in the field. We had no more than 100 field human resources managers who all worked from Bentonville. We were more centralized in terms of HR support and we did not have enough HR support in the field. We have created five divisional HR leaders, 27 regional HR directors and 342 field HR managers,† says Sue Oliver, senior vice president of the Wal-Mart Stores Division. (Workforce. com) Wal-Mart also created a five-person team of human resources professionals with legal ba ckgrounds who are available 24 hours a day seven days a week to handle supervisor’s concerns regarding employment matters. Workforce. com). For example, store managers can call the team if they need information on how to best accommodate a physically disabled worker. Although the company’s plan to expand its HR operations looks like a step in the right direction, critics of Wal-Mart hope it’s just the first of more measures to come, claiming that Wal-Mart has needed to provide more HR support and training for its store managers for some time. â€Å"By not providing any guidance or HR standards, store managers were left to their own devices,† says Jocelyn Larkin, an attorney representing 1. million women in a gender discrimination suit against Wal-Mart. (Workforce. com). However, Wal-Mart has stated the changes have not come about because of their critics, but a plan to have HR strategies integrated with the business strategies. â€Å"As we think about th e three- to five-year time horizon, we know we have to be having the right talent to secure our future. Our business strategies won’t be successful if we don’t have the right talent, and the only way to do that is to make sure that HR is more integrated. †, says Oliver. One of the biggest criticisms of Wal-Mart is that they do not pay their employees a fair wage. Most of Wal-Mart’s critics say if the company paid better compensation and benefits, they would have an easier job of attracting and retaining talent. â€Å"We are doing a good job of addressing both compensation and benefits. We want to be an employer of choice, and to do that you need to be market-competitive with wages, whether the workers are hourly or in management,† says Sue Oliver, senior vice president of the Wal-Mart Stores Division. For our hourly associates we have an annual review process where we take an outside vendor, like Hewitt Associates or the Hay Group or other compensation firms. They help us analyze by market and by store whether or not our start rates are market-competitive. † (Workforce. com). After much criticism that Wal-Mart is known for its low wages, Wal-Mart announced in August 2006 they were raising starting pay at 1200 of its stores by an average of 6%. The increase was instituted after conducting a wage survey that suggested increases in wages were needed to remain competitive as an employer. These start rate changes, combined with our competitive benefits like affordable health care, 401K and profit sharing, and annual incentives for our hourly associates, make us an even more attractive employer, which is why people stand in line to apply for Wal-Mart jobs,† said Susan Chambers, executive vice-president of the Peoples Division for Wal-Mart Stores. One of Wal-Marts major recruitment goals is to ensure a diverse workforce by attracting qualified candidates from differing. Wal-Marts has developed a People Action Plan, which sets forth policies for associates, managers, and supervisors to base all employment decisions on the principles of equal employment opportunity. The plan requires the recruitment, hiring, training and promotions of all positions in the company, along with all personnel decisions such as compensation, benefits, training, demotion and termination, will be done without regard to race, color, religion, gender, national origin, age, or disability. (Workforce. com). Understanding that recruiting new talent is vital to meeting the demands of continuous growth, Wal-Mart conducts job fairs, college recruiting, and internships to increase the candidate pool for open positions throughout the company. To help with recruiting for management positions, Wal-Mart directs two internship programs designed for MBA students. One is a 12-week internship for first-year MBA students that assign the intern a specific project related to the needs of the company. The other is a six-month internship that is intended for second-year MBA students. The program consists of one-month rotations through various divisions that will prepare student for management positions within Wal-Mart stores. Wal-Mart believes that promoting from within is more effective because internal candidates have higher success rates in their new positions due to familiarity with the corporate culture. Because of this, Wal-Mart has taken up a promote from within philosophy, citing seventy-six percent of Wal-Mart store management team started at Wal-Mart in hourly positions. (Esight. org). IV. Wal-Mart Performance Compensation Management Performance management and compensation management have been the center of controversy for Wal-Mart associates and critics alike. The issue seems to stem from the large and diverse pool of associates themselves. There are so many stores located throughout the country and so many employees (an estimated 1. 3 million in-store). The vast range of requirements for pay and benefits is inevitable. Wal-Mart itself realizes the need for a comprehensive list of options for its employees. Under the Career / Benefits section of its website, the company boasts having a â€Å"wide range of choices in our benefits package†. Wal-Martstores. com). To more easily navigate through these choices, they have divided the benefits into four categories: My Money, My Career, My Home, and My Health. My Money, My Career, and My Home focus on pay, compensation, incentives, living expenses, education and advancement opportunities within the organization as managed through performance and compensation. His torically, there has been some dispute regarding the level of pay in which Wal-Mart starts off its new hires. The range starting pay is $7 to $12 an hour for store associates, averaging around $10 an hour. The company does acknowledge the base pay may not be high, but it declares its incentive programs can offset with financial compensation and recognition of high performance. (Wal-Martstores. com). There are incentive programs that recognize and pay for team players based on the performance of the company. They offer discount cards and free membership to Sam’s Club. The company even provides financial education to its employees to help manage their money, debt, credit, and budgets. Another positive compensation is vacation pay, which can accumulate for associates based on how long they have been employed with Wal-Mart. This is also an example of the company promoting itself as a career opportunity, not just a temporary job. The My Career category describes advancement opportunities within Wal-Mart and describes how they promote development through training programs, internships, and even shareholders’ meetings and company functions. (Wal-Martstores. com). The latter two are ways for associates to learn more about the company and industry, something that goes beyond a single store location, product, and pricing. Self development is also important to the company as they promote their employees continuing with their educations. My Home describes benefits as including scholarship programs, education reimbursement, and even a program which partners Wal-Mart Stores, Inc with colleges and universities offering on-line courses. (Wal-Martstores. com). The company also offers programs to assist with dealing with personal or work related issues for employees and their family members, child care discounts, and a program for long-term service in which tenured associates who leave the company can still be eligible to continue receiving some benefits. All in all, the company seems to realize the diverse needs of its associates, new hires, and possible applicants. It outlines and promotes (though, with little detail) how it recognizes performance and provides financial compensation to those who are eligible either by need or via an award program. Recently, one set of associates rallied against increasingly strict penalties for individuals who did not follow the scheduled shifts. Employees at a Wal-Mart Super Center in Florida protested outside of the store claiming the establishment was â€Å"cutting back on full-time hours, capping wages and forcing them to work increasingly irregular schedules†. (Wall Street Journal). The policy itself penalizes employees per number of unexcused absences and further requires individuals to call a 1-800 hotline if the absence is due to illness. Critics believe this is another attempt by the company to deter individuals with chronic health conditions from applying or further push currently employed associates out of the company. This situation exemplifies a public impression of Wal-Mart’s performance management tactics. The final category listed under benefits is My Health. This describes the common array of health benefits such as medical, dental, life, ADD (Accidental Death and Dismemberment), and disability insurance. It also offers a few not-so-common benefits such as business travel accident insurance, Starbridge, which is a medical plan available to employees who are waiting on their eligibility for coverage or who are temporary employees, and Aflac Cancer Insurance. (Wal-Martstores. com) Despite what seems to be a somewhat normal if not diverse collection of healthcare benefits, this category tends to be at the center of the Wal-Mart compensation controversy. The company is currently under scrutiny for its new â€Å"Value Plan† healthcare package which promotes lower premiums, but much higher deductibles. Wall Street Journal). Again, critics of the company feel this program is a way to cut health-care related expenses as well as repress sickly individuals from applying. Wal-Mart’s retort to this criticism is that it is an option to benefit those associates with few medical needs by enabling them to save money through lower premiums. V. Wal-Mart – Strategy Strategic Change s First of all, we have to mention in the beginning that Wal-Mart implements several strategies to succeed in today’s competitive business world. In other words, Wal-Mart has a wide range of strategies which were analyzed by us in detail. One of them is that, Wal-Mart has established a strong retail brand and a reputation for value of money as a component of its strategies. Moreover, it has convenience and a wide range of products all in one store. (Marketingteacher. com). Then, Wal-Mart implements the strategy of aggressive growth. The company has grown a lot in the recent years and has even experienced global expansion. For instance, if you can remember the Wal-Mart’s purchase of the United Kingdom based retailer ASDA, you will see that our argument is proved. After that, Wal-Mart involves its use of information technology to support the international logistics system. This way, the firm can observe how individual products are performing country-wide, store-by-store at a glance. By the way, IT is also advantageous for Wal-Mart’s efficient procurement. Additionally, Wal-Mart implements a focused strategy for human resource management and development. The employees are really a key factor for Wal-Mart’s business and the company invests time and money in training the workers, as well as retaining a development team. Following that, Wal-Mart has a strategy of selling products across many sectors such as clothing, food and stationary. This strategy of Wal-Mart is also sometimes criticized by stating that it decreases the flexibility of the company. Moreover, Wal-Mart has a strategy of keeping the manufacturing costs low in order to decrease the cost of producing many consumer products. In relation with this strategy, Wal-Mart implements the outsourcing to low cost regions of the world. Furthermore, Wal-Mart implements the strategy of cutting wages, cutting health benefits and cutting pension benefits in order to remain competitive. For example, it was stated in an article (2005) that Wal-Mart’s health insurance plans were only covering 48% of their employees. (Joesschool. blogs. com). Definitely, this implementation is another Wal-Mart strategy which is widely criticized. Another Wal-Mart strategy was moving to small towns and setting stores in these low populated places. This strategy was implemented by establishing stores so that the distribution centers or warehouses could take care of the customers. This strategy was really very effective in reducing marketing and advertising costs. It’s also a good idea to mention the distribution strategy of Wal-Mart. The distribution systems of Wal-Mart did seriously provide one of the greatest competitive advantages to the company. Flexibility of controlling the distribution is also an important strategy here. Also, the large-scale of Wal-Mart’s distribution centers and the technology implementations should also be mentioned here. Next, Wal-Mart also has a strategy of targeting the low and middle-income consumers. To realize this strategy, the prices of goods are always tried to be kept at minimum and lower than the competitors. In other words, the Wal-Mart model works aggressively to have the lowest cost product available to the customer. (Qando. net). In addition, it’s a known fact that Wal-Mart also uses non-American workers in order to minimize the costs. Definitely, this is considered to be very unethical and wrong both worldwide and in the U. S. since Wal-Mart is taking advantage of foreign workers in sweatshop conditions. (Wal-Martwatch. com). Although this implementation is prohibited, Wal-Mart was detected to employ these employee in some investigations. Plus, another strategy of Wal-Mart is that it doesn’t seek to create markets by introducing new products. Plastic. com). Instead of that, Wal-Mart is known to be a market follower. According to some authorities, this is an intelligent strategy of Wal-Mart since it minimizes the risk of failure. One other strategy of Wal-Mart is to never depend on a single supplier. From Wal-Mart’s point of view, depending on a single supplier wo uld be a very dangerous strategy since it would limit the freedom and flexibility of the business. For sure, this action would also be dangerous because if that supplier becomes unsuccessful, it would absolutely affect Wal-Mart. Besides, it’s said that Wal-Mart successfully navigated changes in store formats, product tastes and the make-up of the workforce, and it assembled management talent over time in its shift to mass market retailing. (Georgia State University, Robinson College of Business, The State of Business Magazine). Thus, we can also emphasize these actions as a part of Wal-Mart’s overall strategy. To continue with our list of Wal-Mart strategies, we should also stress that the company has an effective use of logistics management as well as having an effective inventory control. Also it has the bargaining power over suppliers. Then, Wal-Mart focuses on operations and execution by providing an over-average quality at a very lower price. Here, the company gives importance to efficiency, streamlining operations and supply-chain management. After that, Wal-Mart also implements the strategy of analyzing customers in great detail. The match the inventory of the store with the preferences of the clients by analyzing all sales and they look at sales volume, inventory turnover, packaging, price points and many other variables by product or group of products in order to create a profile of the buying habits of the customers at the store/site level. Marketingprofs. com). By the way, Wal-Mart is careful about keeping the employee turnover ratio at very low levels. According to the company, a high employee turnover ratio would seriously harm efficiency so they try to keep it in minimum as much as they can. For example, Wal-Mart’s driver turnover is only 5% a year, compared with an industry average of 125%. (The Economist Newspaper – Economist. com). Going on with Wal-Mart’s strategies, the firm has a strategy based on having all items in stock and providing a very good customer service. For example, their regime of customer service requires them to speak to any customer who comes within a defined distance. (Guardian News – Guardian. co. uk). Finally, in regards to Wal-Mart’s international strategy, the company usually prefers acquisitions when going overseas. For example, the acquisitions in England and Mexico are very good examples for this statement. At last, the firm’s appreciated website is also used as an effective tool to gain advantage in the international arena. Speaking for the strategic changes of Wal-Mart, we can say that some strategic changes for the company are observed both in the domestic U. S. market and in the international markets. Concerning Wal-Mart’s strategic changes in the international arena, we can say that the company is trying to make a more significant entry into the Chinese marketplace through the acquisition of a Taiwanese-owned supermarket chain called Trust-Mart. (Fastcompany. com). For this acquisition, Wal-Mart will compete against the French giant Carrefour SA. Definitely, there are some clear reasons for Wal-Mart’s mentioned strategic change. China’s economy is growing more than 10 percent a year, retail sales surged 12. 9 percent in 2005 over the year before, to 6. trillion yuan ($847 billion) and by 2002, it’s predicted that the market could expand to about $2. 4 trillion. (Signonsandiego. com). As you know, Wal-Mart has been successful in Canada, Mexico and England until this date. However, they did fail in Hong Kong, South Korea, Japan, Indonesia and Germany since they could not analyze the culture of these countries a s well as the particular market characteristics. According to some authorities, Wal-Mart’s this strategic change of strictly going into the Chinese market will bring success while it’s just the reverse for some other authorities. Following that, another strategic change by Wal-Mart is that the company executives announced this year they would greatly increase the number of organic products on their shelves. (Westernfarmers. com). The firm’s recent introduction of private labeled organic milk can be provided as an example here. Then, as another strategic change of Wal-Mart, we can say that the company has announced environmentally friendly policies. Criticized intensively for violating the Clean Water Act and causing air pollution, perhaps we should think that this should not be a surprise strategic change for Wal-Mart. For example, selling clothing made from organic cotton, cutting energy use at new stores, offering cheaper health insurances to its employees and promising fuel efficiency were only some of the actions taken by the company. (Alternet. org). Especially, we must consider the healthcare terms for employees as a significant strategic change. These changes include reduction in the waiting period for firm health insurance from two years of employment to one year, helping part-time employees with the ability to cover their children and offering employees a discount on healthy foods sold at company stores. Insiderview. com). As a result, you can clearly realize that the strategic changes for Wal-Mart are also numerous which can never be underestimated by the company’s competitors. VI. Wal-Mart: A Strategic and Financial Summary Wal-Mart was founded with the opening of its first store in Rogers, Arkansas, in 1962. Wal-Mart quickly began to expand and had twenty-four stores reaching $12 . 6 million in sales in 1967. In the 1970s, Wal-Mart opened its first distribution center and home office in Bentonville, Arkansas. This distribution center would be one of many that would help make Wal-Mart the retailing giant that it is today. By 1975, Wal-Mart had 175 stores in operation. In 1983, Sam’s Club opened it doors. The chain consists of more than 570 clubs in the US and 100 International locations. In 1998, Wal-Mart realized that the retailing environment was becoming ever competitive, and they would need to respond quickly. They began opening Wal-Mart Super Centers as well as Wal-Mart Neighborhood Markets, both of these, which creates a one stop shopping experience for customers, which they love. During the 1990s, Wal-Mart became the number one retailer in the world through its aggressive store opening and pricing strategies. Early in 1995, Wal-Mart started its international division and began opening stores internationally. Wal-Mart dos not have a formal mission statement, but their philosophy is, â€Å"to provide everyday low prices with exceptional customer service† (Wal-Mart, 2006). Currently the company is doing extremely well in comparison to the retail industry as a whole. Today Wal-Mart has 1,100 discount stores, 1,900 Super Centers 95 Neighborhood Markets, and 550 Sam’s Club locations. Wal-Mart is continuing its strategy of opening many new stores, which allows it to remain extremely competitive. In October 2006 alone, Wal-Mart has one Super Center scheduled to open as well as three Sam’s Clubs. The following will give the reader a brief financial analysis of Wal-Mart for fiscal year 2006 (February 30, 2005 through January 1, 2006). SWOT Analysis A SWOT analysis is a very powerful tool that can help a company uncover strengths, weaknesses, opportunities, and threats that may not be obvious until the analysis is completed. The following is the SWOT Analysis for Wal-Mart. Strengths 1. Wal-Mart is a powerful retail brand. It has a very good reputation for the low prices it offers, convenience and the wide variety of products in offers in its stores. 2. The company has grown at a fast pace over the past few years in the United States while expanding globally as well. 3. The company can see how individual products are performing at any given moment store-by-store using efficient Information Technology. This allows for the Just in Time delivery system to work so well for Wal-Mart. Weaknesses 1. Wal-Mart is the World’s largest grocery retailer, which could cause it to become weak in some areas due to the huge span of control. 2. Since Wal-Mart sells a huge variety of products across many sectors, it may not have the flexibility that some of its more focused competitors have. 3. The company is global, but it only has a presence in a few countries. Opportunities 1. Wal-Mart could merge or form strategic alliances with other global retailers. This would allow them to penetrate other countries. 2. New locations and store types offer Wal-Mart the opportunity for further market penetration. They could develop mall sites or mom and pop like operations 3. They could still further expand their Super Centers Threats 1. Because Wal-Mart is a retail leader, the are constantly the target of competition, locally and globally 2. Being a global leader means that you are exposed to political problems in the countries, you operate in. 3. Intense price competition is a constant threat for the company. (MarketingTeacher, 2006) Financial Analysis Wal-Mart ratios from a five-year average in comparison to the Industry mean: |Ratios |Wal-Mart |Industry Mean | |Beta |. 61 |. 77 | |Quick Ratio |. 26 |. 31 | |Current Ratio |. 85 |1. 18 | |ROA 5yr. Avg. |8. 94 |6. 4 | |ROE 5yr. Avg. |21. 27 |16. 39 | |Revenue/Employee |184,158 |216,978 | |Net Income/Employee |6,647 |9,751 | |Inventory Turnover |8. 03 |6. 27 | |P/E Ratio |17. 37 |18. 2 | |(Reuters, 2006) | | | Wal-Mart’s beta is lower than the industry average. This means that there is less risk in investing in this company than the industry. The beta is a measure of a stock’s price volatility in relation to the rest of the market. In other words, how does the stock’s price move relative to the overall market? The closer the beta value is greater to one, the greater the risk. The Return on Equity (ROE) has a high return on equity. This means it is capable of generating cash internally. The higher a company’s return on equity compared to its industry, the better, which is the case with Wal-Mart. The Return on Assets (ROA) tells an investor how much profit a company generated for each $1 in assets. In Wal-Mart’s case, they are generating $8. 94 in profit for every $1 invested in assets. While the industry is only generating $6. 84 in assets for every $1 invested in assets. Their Price to Earnings Ratio gives an investor an idea of how much the market is willing to pay for a stock depending on its earnings. The higher the P/E the more the market is willing to pay for the company’s earnings. The lower the P/E the less the market is willing to pay for the company’s earnings. In Wal-Mart’s case, for every $17. 37 the investor pays for the company, they can expect to earn $1. 00 in return. The quick ratio was designed to measure a company’s immediate assets against its current liabilities. This measure gives financial institutions an idea of how much cash can be created against the current liabilities. Wal-Mart’s Quick Ratio is lower than the industry. For every $1 in liabilities, Wal-Mart is able to produce $. 26 in cash. The Current Ratio, is another test of a company’s financial strength. This method calculates how many dollars in assets are likely to be converted to cash in a given year in order to pay debts that may come due during the same year. Wal-Mart’s liquidity issue is below 1, which under normal circumstances would be a concern. Because Wal-Mart is in the retail business most of its inventory could easily be sold and converted to cash. The Revenue per employees is lower than industry average and the net employee income is lower when compared to the industry average. The inventory turnover is above industry average, which means Wal-Mart is turning there inventory over 8. 3 times while the industry is turning theirs over only at 6. 27 times in the same time period. VII. Recommendations Wal-Mart has a big future in terms of growth potential. They could extend their global presence by entering the Middle East. In its earlier expansion into international markets, Wal-Mart followed the strategy of acquiring a chain in the particular country or setting up a joint venture. This strategy is working very well for them, and they should continue to pursue it. Wal-Mart’s concept of purchasing an existing chain has proved very successful. In 2006, Wal-Mart’s international operations had retail sales of $62,719 an 11. 3% increase over the previous year (Wal-Mart Stores 2006). Wal-Mart has the resources and finances in place to increase their international presence. They could penetrate Israel by acquiring Blue Square, which has a corporate culture similar to Wal-Mart. Wal-Mart needs to continue penetrating markets by creating joint ventures or acquiring retail companies that have already established themselves. Once they do this, they can implement their advanced IT systems do continue to deliver their products just in time to local tastes of the customers. VIII. Conclusion Wal-Mart is a huge presence globally. With their current international September 2006 month end reporting growth of 32% increase from the previous year, there is still plenty of markets for them to penetrate, thus, increasing shareholder value. This is an excellent company to invest in. At this point, I would invest in the company aggressively due to their current expansion and earning per share over the next year. Many analysts predict that Wal-Mart will have earnings of $3. 26 per share (Yahoo 2006). In Fiscal Year 2006, Wal-Mart reported sales of $312,427 million dollars. After reviewing the financial statements of the company, as an investor, I would not hesitate to immediate purchase their stock. IX. REFERENCES Ceniceros, R. (2004). â€Å"Bias suit against Wal-Mart gets class action status†. Business Insurance, Vol. 38, Issue 26. Featherstone, L. (2005). â€Å"Is Wal-Mart Really Going Green? † The Website of AlterNet. http://www. alternet. org/envirohealth/28882/ Harris, D. S. (2002). â€Å"Agility in Action. † Georgia State University, Robinson College of Business. The State of Business Magazine. Vol. XV. No. 2 http://www. robinson. gsu. edu/magazine/summer2002/agility. html Hudson, K. (2006). Wal-Mart to Trim Options for Health Coverage. † Wall Street Journal, Eastern Edition, New York, NY. InsiderView. (2004). â€Å"Wal-Mart changes its healthcare terms for employees. † The Website of InsiderView. http://www. insiderview. com/view/walmart_employee_healthcare. html Johnson, L. D. (2006). â€Å"Wal-Mart’s C hina Expansion Strategy†. The Website of FastCompany. http://blog. fastcompany. com/archives/2006/10/17/walmarts_china_expansion_strategy. html? partner=rss Laws,. F. (2006). â€Å"Wal-Mart Sustainability Strategy Drawing More Crossfire†. The Website of Western Farm Press. http://westernfarmpress. com/news/100506-walmart-strategy/ MarketingProfs LLC. (2004). â€Å"Wal-Mart Marketing Strategy Through Time. † The Website of MarketingProfs LLC. http://www. marketingprofs. com/ea/qst_question. asp? qstid=1497 Marketing Teacher Ltd. (2006). â€Å"SWOT Analysis Wal-Mart. † The Website of Marketing Teacher Ltd. http://www. marketingteacher. com/SWOT/walmart_swot. htm Marquez, Jessica. (2006). â€Å"Critics Remain Wary of Wal-Marts Plans†. The Website of Workforce Management http://www. workforce. com/section/09/feature/24/47/70/index. html Marquez, J. (2006). â€Å"Faced with high turnover, retailers boot up e-learning programs for quick training. † http://web. ebscohost. com Marquez, J. (2006). â€Å"More HR in Store at Wal-Mart: A QA With Sue Oliver†. The Website of Workforce Management http://www. workforce. com/section/09/feature/24/47/65/index. html Marquez, J. (2005). â€Å"Wal-Mart Throws Lifeline to Managers†. The Website of Workforce Management http://www. workforce. com/section/00/article/24/00/94. html Olson, T. (2005). â€Å"What’s good for Wal-Mart is good for Wall Street. † Olson Online. http://joesschool. blogs. com/olsononline/2005/07/index. html Plastic. (2005). â€Å"The Worries of Wal-Mart†. The website of Plastic, plastic. com. http://www. plastic. com/comments. html;sid=04/12/03/09225229;cid=75 Reuters. (2006). The Website of Reuters Reuters. com. http://reuters. com Sams Club. (2006). The Website of Sams Club SamsClub. com http://samsclub. com Seth, A. (2003). â€Å"Safeway? It’s a week’s takings for Wal-Mart. † The Website of Guardian News and Media Limited. http://www. guardian. co. uk/print/0,3858,4586461-102271,00. html SignOnSanDiego, A. (2006). â€Å"Wal-Mart to buy retail chain with 100 hypermarkets in China for $1 billion.. † The Website of SignOnSanDiego. http://www. signonsandiego. com/news/world/20061017-0526-wal-mart-china. html Speizer, I. (2006). â€Å"Wal-Mart training goes into wholesale overhaul. http://web. ebscohost. com The Economist Newspaper Limited. (2001). â€Å"Wal around the world†. The Website of Economist Newspaper Limited. http://www. economist. com/business/displayStory. cfm? Story_ID=895888 The QandO Blog. (2006). â€Å"The new claim: Wal-Mart monopsony bad for economy. † The Qand O Blog: Free Mark ets, Free People. http://www. qando. net/details. aspx? entry=4481 Wal-Mart. (2006). The Website of Wal-Mart Wal-Mart. com http://walmart. com Wal-Mart Facts. (2004). â€Å"Wal-Mart Details Progress Toward Becoming a Leader in Employment Practices†. The website of Wal-Martfacts. com http://www. Wal-Martfacts. om/articles/3744. aspx Wal-Mart Stores. (2006). â€Å"Benefits, My Career. † The Website of Wal-Mart Stores. http://walmartstores. com/GlobalWMStoresWeb/navigate. do? catg=609 Wal-Mart Stores. (2006). â€Å"Benefits, My Health† The Website of Wal-Mart Stores. http://walmartstores. com/GlobalWMStoresWeb/navigate. do? catg=606 Wal-Mart Stores. (2006). â€Å"Benefits, My Home. † The Website of Wal-Mart Stores. http://walmartstores. com/GlobalWMStoresWeb/navigate. do? catg=608 Wal-Mart Stores. (2006). â€Å"Benefits, My Money. † The Website of Wal-Mart Stores. http://walmartstores. com/GlobalWMStoresWeb/navigate. do? catg=607 Wal-Mart Stores. (2006). â€Å"eSight Directory of Disability-friendly Companies†. The Website of eSight Careers Network. http://www. esight. org/OverviewByType. cfm? room=nid=0. 0ovid=1310type=profileovrm=n6 Wal-Mart Watch. (2005). â€Å"Person of the Week: Stephan Goetz and Hema Swaminathan. † The Website of Wal-Mart Watch. http://walmartwatch. com/blog/archives/ person_of_the_week_stephan_goetz_and_hema_swaminathan/ Wall Street Journal. (2006). â€Å"Wal-Mart Employees Protest Outside Store. † Wall Street Journal, Eastern Edition, New York, NY. Yahoo Finance. (2006). The Website of Yahoo Finance. http://finance. yahoo. com

Antigone Essay On Gender Roles Example For Students

Antigone Essay On Gender Roles A monologue from the play by Sophocles NOTE: This monologue is reprinted from Greek Dramas. Ed. Bernadotte Perrin. New York: D. Appleton and Company, 1904. HAEMON: Father, the gods implant reason in men, the highest of all things that we call our own. Not mine the skillfar from me be the quest!to say wherein thou speakest not aright; and yet another man, too, might have some useful thought. At least, it is my natural office to watch, on thy behalf, all that men say, or do, or find to blame. For the dread of thy frown forbids the citizen to speak such words as would offend thine ear; but I can hear these murmurs in the dark, these moanings of the city for this maiden; No woman, they say, ever merited her doom lessnone ever was to die so shamefully for deeds so glorious as hers; who, when her own brother had fallen in bloody strife, would not leave him unburied, to be devoured by carrion dogs, or by any bird:deserves not she the meed of golden honour? Such is the darkling rumour that spreads in secret. For me, my father, no treasure is so precious as thy welfare. What, indeed, is a nobler ornament for children than a prospering sires fair fame, or for sire than sons? Wear not, then, one mood only in thyself; think not that thy word, and thine alone, must be right. For if any man thinks that he alone is wisethat in speech, or in mind, he hath no peersuch a soul, when laid open, is ever found empty. No, though a man be wise, tis no shame for him to learn many things, and to bend in season. Seest thou, beside the wintry torrents course, how the trees that yield to it save every twig, while the stiff-necked perish root and branch? And even thus he who keeps the sheet of his sail taut, and never slackens it, upsets the boat, and finishes his voyage with keel uppermost. Nay, forego thy wrath; permit thyself to change. For if I, a younger man, may offer my thought, it were far best, I ween, that men should be all-wise by nature; but, otherwiseand oft the scale inclines not sotis good also to learn from those who speak aright.

Empirical Research on Individual Conformity to Group Pressure

Introduction Human beings are social and interact with others in different social arrangements. Many times the associations take place in group settings that require individuals to work jointly to meet set goals. At the work place, groups are commonly formulated to complete tasks meant to grow an organization.Advertising We will write a custom essay sample on Empirical Research on Individual Conformity to Group Pressure specifically for you for only $16.05 $11/page Learn More With the advancement in technology experienced globally, the concept of work teams has been taken to an even higher level. It is therefore common to come by virtual teams that are constituted by individuals who may or may not be geographically dispersed. With the help of tools such as wikis and blogs, virtual teams are able to carry out activities with very minimal face to face encounters. As stated by Griffin and Moorhead (2011), individuals influence groups as much as groups also influence the individuals. Within a group, an individual with a strong character can easily determine the others act while the use of very strict group norms can compel members to conform either willingly or against their will. According to Mowday (1993) one is able to understand organizational behavior by studying the link between individuals, groups and the organizational culture. These three are interrelated and determine how far an organization can go in offering services to the public. This paper presents a critical evaluation of research that has been done by different authors on the subject of individual conformity to group pressure. Groups and Social Norms According to Bendor and Swistak (2001), a group norm is defined as a rule or behaviour that triggers punishment if violated by an individual who is a part of the group. Norms exist to provide stability to a group so as to ensure that the group is able to accomplish stipulated tasks as planned. In a study by Brown (2009), o rganizations have for many years been encouraged to build strong cultures that can help in the achievement of goals.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Organizations that are keen to realize greater performance have a culture of creating and reinforcing strong group norms to ensure that groups are used to benefit the organization. Further claims indicate that the presence of a strong organizational culture will inspire works teams to execute tasks as required and complete them within the stated time period (Brown, 2009). Durlauf and Blume (2008) observed that the main purpose of social norms is to govern the interactions within groups and to successfully coordinate the varying expectations of the individual team members. The group norms are particularly valuable when a group is made up of people with diverse backgrounds. Durlauf and Blume (2008) further argued that once a group has created the norms, all its members required to conform and act in accordance with stipulated rules. Even though there is a general belief that group norms greatly enhance the performance of a group, good management is, however, critical for success to be realized. Durlauf and Blume (2008) described three different approaches to do this. These include coordination, threats of a member being punished by the group if he or she deviates from what has been agreed and specifying an agreed code of conduct. Although norms may not formally appear anywhere or even be discussed quite often in the context of a working group, they are a very powerful tool in guiding the behaviour of a group and ensuring that goals are met. McMahan Kacmar (1991) argued that the concept of group norms is extremely essential for an organizational consultant and although it they have indicated that it may not be easy to identify all the key requirements in forming or strengthening group norms, they agree that stri ct control measures must be adhered to if a work team is to work effectively. Subsequently, they have identified four reasons why group norms must be enforced. These include the need to ensure those work teams survive, managing the behaviour of a group, dealing with interaction problems that could cause embarrassment to group members and making sure that the group lives up to its intentions (McMahan Kacmar, 1991).Advertising We will write a custom essay sample on Empirical Research on Individual Conformity to Group Pressure specifically for you for only $16.05 $11/page Learn More According to a study by Bettenhausen and Murnighan (1985), social norms tend to be invisible even though they play an incredible role in helping organizations control the ultimate behaviour of work teams. Brief and Weiss (2002) argued that effectiveness of a work team is to some extent affected by the personality traits of the individual members team. While some team members m ay be willing to abide by the group norms, others may be uncooperative. Nadler Tushman (1980) also observed that the whole process of creating and managing groups is quite complex and the fact that it is never easy to really understand the individual members in a group makes it even more difficult. Development of Norms Bettenhausen and Murnighan (1985) claimed that while organizations do appreciate the fundamental role played by group norms to guarantee the success of groups, they pay little attention to the process involved in developing these norms. Using nineteen different groups, they did experiments to try and establish how group norms develop. Even though organizations may accomplish tasks using informal and loosely structured teams with no strict guidelines, results often end up being pathetic. Where unstructured work teams are created, they will be made up of people with no prior history of interacting with one another and this can generate problems incase no policies are i n place to support the work of the group. Characteristically, these work teams spend so much time getting to know each other so as to agree on the way forward rather than embarking on the stipulated tasks right away (Bettenhausen Murnighan, 1985). A similar argument is presented by Mowday (1993) who also observed that unless interpersonal relationships are fully dealt with, groups will not be able to function well and it will difficult to get the expected output. The continued use of such an approach will lead an organization to a consistent state of poor group performance. This being the case, Bettenhausen and Murnighan suggested that it is important for organizations to take time and develop scripts that will govern group operations as they are formed.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Although these scripts may need to be adjusted based on the unique requirements of individual groups, a common script must be made available for team members to reference. Availability of a common script to be used by all the members of a team has the effect of boosting the confidence level of the individuals in the team. It also makes it possible for members to trust one another and response time is reduced as work teams will be able to act quickly (Bettenhausen Murnighan, 1985). Research has also demonstrated that informal norms can be very detrimental to the productivity of an individual and must be avoided at all costs. By clearly understanding how norms are developed and thereafter transferred to the work team, an organization can address the challenges of poor group performance. The understanding will also empower group members to later be able to deal with group pressure more positively (Bettenhausen Murnighan, 1985). According to Feldman (1984), group norms are essential f or two main reasons. They determine the productivity of a group and can also be used by the management to shape the behaviour of the group as well as that of individuals. Groups can also influence the culture within an organization and in cases where group members have a past history of interacting with one another better results are feasible (Mowday, 1993). Boonstra (2004) found out that the behavior of an individual is strongly rooted in groups and as such, groups are a very useful means of changing the behavior of individuals. To change the way an individual responds to situations, one only needs to focus on altering the behavior of the group to which the individual happens to belong. When effectively used, groups will also help in transferring knowledge to members within a work team (Argote Ingram, 2000). Enforcement of Group Norms Feldman (1984) pointed out that groups aim at operating in a manner that will amplify success while minimizing failure and argued that a group will only create and enforce norms that are regarded as being relevant to the activities of the group. As stated elsewhere in this paper, one of the motivations for enforcing norms is to eliminate any possibilities of interpersonal embarrassment and hence, groups will therefore be very enthusiastic about ensuring that members are always comfortable. (Feldman, 1984). Conformity and Resistance Goldman, Haberlein and Feder (1965), studied the response of individuals to group pressure by classifying them into two main groups. While one group was considered as being made up of conformists or people who follow without showing any resistance, the other one included those seen as resisters. The categorization was based on how individuals reacted to group pressure. Conformers would very easily go with the flow of the group while resisters would resist any pressure from the group and instead, choose to act differently to the disappointment of the group. Goldman et al (1985) argued that when one ea sily conforms to group pressure he or she is very likely to perform in a stressful manner and this would get worse if an individual refused to conform to the demands of the group as there is fear of being admonished by the rest of the group if one does not abide by the rules. Apparently, there is a high chance of a conformer doubting his or her own intelligence in making sound decisions. In comparison to resisters, conformers will take a much lesser time to perform a given task. This is true considering that characteristically, resisters will take time to come to an agreement before finally embarking on an activity. Smooth communication in a resister group is also ruined by the existence of competitiveness and hostilities among the group members (Goldman et al., 1965). Although it might actually appear that conformers would be able to solve a problem much faster than resisters, this may not be necessarily the case as in some situations where individuals happen to have differing answ ers to the same problem, a resister group could arrive at an answer much faster. According to Mills, Mills, Bratton and Forshaw (2006), group norms should be democratic enough to encourage individual members of a group to conform. Any attempts to make rules that are unfavorable will only result in resentment and poor group performance. Attraction to the Group and Conformity to Group Norms Kiesler (1963) observed that the willingness of any individual to cooperate with a particular group is directly related to the level of attraction the individual has to the group. This makes sense especially because people will want to be associated with what they really like. If it so happens that all the members of a group like to be associated with it, then chances of the group succeeding will be quite high. The opposite is true as men and women will tend to be less devoted to a group they are not really interested in. This is a good tip for the managers to keep in mind when forming groups. As m uch as possible, groups should be made up of individuals who have interest in the subject matter. Realistically, however, creating such groups may be a challenge and hence, some compromise may be necessary. Kiesler also stated that, there are instances where people with a lesser attraction to a group conformed to the group’s norms more than those with a slightly higher level of attraction. Nevertheless, some attraction is desirable for the members of a work team to conform. Where there is negative attraction to a group, conformity to its norms will be in jeopardy and group progression may be hindered (Kiesler, 1963). Although attraction could be induced, individuals conforming because of some promised benefit will easily resist when their expectations are not met. Attraction can also be nurtured by accepting members in a group. When individuals feel accepted in a group, it becomes easy for them to conform to the norms of the group (Kiesler, 1963). Although helpful in getting members to conform to the requirements of a work team, rewards and benefits could have some negative effects in some cases and must therefore be used sparingly (Rousseau, 1997). Conditions that Lead to Conformance or Defiance Hornsey, Majkut, Terry and McKimmie (2003) described some conditions that could lead to either conformity or resistance to group pressure. Individuals would either be consumed by what the society expects of them or based on an individual’s own judgment it is possible to figure out what other people would probably do in similar situations; whether or not they would share his or her opinion (Hornsey et al., 2003). When people act under the influence of other people, this is referred to as informational influence as they get to do things based on the information they have. On the other hand, normative influence happens when societal norms only influence people to some degree that makes them desire to fit in a group. It is the influence that leads one to wan t to act in a way that will help him or her be accepted by a group of people (Hornsey et al., 2003). Unlike informational influence which is genuine and leads to real change of attitude, the outcome of normative influence is an attitude that is not genuine and often, individuals simply make efforts to fit in a group (Hornsey et al., 2003). Normative influence is a behaviour that organizations must watch out for as it can easily lead to the creation of groups with members who are not fully committed. In the end, a highly motivated group could get demoralized by the less motivated individuals and sadly, the performance of the group will receive a severe blow. According to Brief and Motowidlo (1986), it is possible to use pro-social behaviors to boost the performance of work teams. Pro-social acts are undertaken to support the well being of others and include behaviors such as cooperating, sharing ideas or material things, giving donations to worthy courses and volunteering for the goo d of others. The pro-social acts are meant to directly benefit a beneficiary who could be a colleague, or a client. It may involve helping a workmate to accomplish an assigned job task or even deal with personal matters. One may also volunteer to take on additional responsibilities at no extra pay (Brief Motowidlo, 1986). Conformity as a Means of Defense An experiment undertaken by Hoffman (1957) showed that conformity can be used as a good defense mechanism by individuals who actually find it difficult to conform to pressure from a group. People who are unwilling to go by the demands of a group have been found to resist genuine group influence by simply conforming and taking a low profile. It therefore follows that although an individual may seem to go with the flow and do or agree with what the group wants or says, it does not necessarily imply that his or her conformance is backed by good intentions (Hoffman, 1957). Thinking about the effect of this to an organization, it is imp ortant to note that despite the fact that determining whether or not an individual is truly conforming is such a difficult task, an organization must make an effort to establish to what extent an individual is genuinely conforming to a work team (Hoffman, 1957). Conclusion Organizations can greatly benefit from work teams when groups are created based on well formulated group norms. As has been demonstrated in this paper, group norms play a very key role in ensuring that work teams get to succeed and deliver as they should. However, it is helpful when organizations take interest in developing and enforcing group norms. Although a number of options are available to assist organization with the enforcement of group norms, choices must be made in a way that will ensure that work team performance is not affected. Poor choice of tactics may lead to the failure of work teams and consequently, poor delivery. According to Zhou (2011), groups can have both negative and positive effects. It i s therefore necessary for organizations to ensure that the groups are well planned. Placing an individual in a group that does not correspond to his or her job responsibilities, for example, would lead to discouragement (Zhou, 2011). In spite of all the challenges encountered, there are great benefits that can be realized when work teams are formed and managed in the right way. It is therefore important for organizations to spend a considerable amount of time studying out the process of creating and strengthening group norms which are essential to the success of a group. Reference List Argote, L. Ingram, P., 2000. Knowledge Transfer: A Basis for Competitive Advantage in Firms. Organizational Behavior and Human Decision Processes, 82 (1) 150 –169. Bendor, J. Swistak, Piotr., 2001. The Evolution of Norms. American Journal of Sociology, Vol. 106, No. 6 (May 2001), pp. 1493-1545. Web. Bettenhausen, K. Murnighan, J. K., 1985. The Emergence of Norms in Competitive Decision-Makin g Groups. Administrative Science Quarterly, 30 (1985): 350 – 372. Boonstra, J.J., 2004. Dynamics of Organizational Change and Learning. England: John Wiley Sons, Ltd. Brief, A. P. Motowidlo, S. J., 1986. Prosocial Organizational Behaviors. 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On being loud and proud: Non-conformity and counter-conformity to group norms. The British Journal of Social Psychology, Sep 2003; 42, 319 – 335. Kiesler, C. A. 1963. Attraction to the Group and Conformity to Group Norms. Journal of Personality, 31(4) 559 – 569. McMahan, G. C. Kacmar, K. M. 1991. The Diagnosis of Work Group Norms: Practical Implications for Change. Journal of Organizational Change Management, 4 (4) 24 – 33. Mills, A. J., Mills, J. C. H., Bratton, J. Forshaw, C., 2006. Organizational Behaviour in a Global Context. Toronto: University of Toronto Press. Mowday, R. T., 1993. Organizational Behavior: Linking Individuals and Groups to Organizational Contexts. Annual Review of Psychology, 44: 195 – 229. Nadler, D. A. Tushman, M. L., 1980. A Model for Organizing Organizational Behavior. New York: AMACOM. Web. Rousseau, D. M., 1997. Organizational Behavior in the New Organizational Era. Annual Review of Psychology, 48: 515 – 46. Zhou, Mark., 2011. 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